Baytex Energy Corp. (TSE:BTE) Given Consensus Recommendation of “Hold” by Brokerages

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$7.00.

A number of brokerages have issued reports on BTE. Scotia increased their target price on shares of Baytex Energy from C$6.50 to C$7.50 and gave the company a “sector outperform” rating in a report on Friday, May 8th. ATB Cormark Capital Markets boosted their price target on Baytex Energy from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. TD upped their price target on Baytex Energy from C$6.00 to C$6.50 and gave the stock a “hold” rating in a report on Monday, May 11th. Canaccord Genuity Group raised Baytex Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$5.25 to C$7.00 in a report on Tuesday, April 14th. Finally, Raymond James Financial boosted their target price on Baytex Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th.

Insider Buying and Selling at Baytex Energy

In other Baytex Energy news, insider Chad Lundberg bought 11,000 shares of the company’s stock in a transaction on Monday, March 30th. The stock was purchased at an average cost of C$6.15 per share, for a total transaction of C$67,650.00. Following the acquisition, the insider owned 613,401 shares of the company’s stock, valued at C$3,772,416.15. The trade was a 1.83% increase in their position. Also, insider Nicole Marie Frechette bought 8,500 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were acquired at an average price of C$5.84 per share, with a total value of C$49,640.00. Following the transaction, the insider owned 73,026 shares of the company’s stock, valued at C$426,471.84. The trade was a 13.17% increase in their position. Insiders have acquired 49,800 shares of company stock valued at $293,188 over the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

Baytex Energy Trading Up 1.1%

TSE:BTE opened at C$7.12 on Friday. Baytex Energy has a 1 year low of C$2.18 and a 1 year high of C$7.37. The company has a debt-to-equity ratio of 6.84, a quick ratio of 0.77 and a current ratio of 2.15. The stock has a fifty day moving average price of C$6.22 and a two-hundred day moving average price of C$5.14. The stock has a market capitalization of C$5.15 billion, a price-to-earnings ratio of -7.42, a PEG ratio of 0.12 and a beta of 0.58.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its earnings results on Thursday, May 7th. The company reported C($0.09) EPS for the quarter. The company had revenue of C$401.37 million for the quarter. Baytex Energy had a negative return on equity of 23.15% and a negative net margin of 83.88%. As a group, sell-side analysts anticipate that Baytex Energy will post 0.3703367 earnings per share for the current fiscal year.

Baytex Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, March 13th. Baytex Energy’s payout ratio is -7.03%.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.